The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-08-22
MONEY FOR ALL.
DR.. Pickett, of Worth, Has Plan by
Which All Can Get Rich.
From the atlanta tGa.) Journal,

From the atlanta (Gd.) Journal,
DR.. Pickett, the able Representative from
the county of Worth, has given much care
full thought and laborious study to the finan-
cal system of the United States, and has
evolved plan which he thinks will give re-
lief. To begin with, DR.. Pickett has noted
the fact, as a great many others of us have
have done, that there are few men i'll this
boosted Republic of ours wherein it is con-
sidered all-important that every one should
be free and equal, who are growing enor-
mously rich, while the great majority CON
tinue poor and struggle to make the 1.-TWO
ends" lap just little The doctor thinks tho
proper legislation will relieve this distress
ing situation, at least to some extent, and
stop the concentration of all wealth in the
hands of a few.
To this end he introduced into the House
of Representatives the following resolu-
ton;
WHEREAS, By the experience of over
twenty years it has been demonstrated that
the financial policy of the general govern
ment, as pursued by the national bank sys-
tenn, has been failure, and has resulted in
making the few richer and the masses
poorer; therefore, be it
RESOLVED. BY the House of Representa-
tives, the Senate concurring, and it is here
by resolved by the authority of the same,
that joint committee be appointed, to con-
sst of three from the Senate and six from
the House of Representatives to frame an
address to the Senators and Representatives
in Congress, to wit:
A memorial to the Senators and Repre-
sentatives in Congress from Georgia, to in
troduce and take such measures as NAV eX-
pedite the passage of bill in Congress to
establish a national financial system of
which real estate shall be the basis, .
One of the Journal staff had talk with
the representative from Worth for the pur-
pose of. obtaining his views in full. The
doctor said he had for a long time been de-
Sirous of doing something for the farmers
They have only their lands and stock, and
these form no basis of credit with the
banks. Now, the great want of this country
is money, and how to obtain it is the
problem that should claim the attention of
all wise legislators.
"What is your scheme?" was asked.
"Why, sir, just this: The currency, or
circulating medium of the country, should
be in proportion to the population, so much
per capita The Governor of each State,
knowing the population of his State, should
make requisition ON the general govern
ment for the proportionate share of the cur
rency, legal tenders, issued by the govern
ment.
"How would you distribute it theng" was
asked.
"Oh? that would be easy enough said
the doctor "The Governor or Legislature
can arrange to distribute the money to the
various counties; for instance sending it to
the Ordinary to be loaned out on real estate
as security.
''In this way farmers can get money at a
reasonable rate of interest on their farms as
security. The one thing | would insist on
is that the circulating medium of the county
should be per capita. The money sharks
and wreckers would be defeated in their
schemes to accumulate all the money in
their own hands, loanng it at usurious
rates and on such security as they may
choose"
The Journal may not have given the doc
tors exact language, but the substance is
correctly reported.
The resolution came up for consideration
in the House q few days ago, and DR.. Pick
EFT made a strong speech in its advocacy.
The House could hardly have understood
the question, for ON motion the resolution
was laid on the table